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PARIS Jan 21 (Reuters) - Credit Agricole is
working on a cost-cutting plan of 150 million to 200 million
euros ($199 million to $266 million) through 2015 at its
corporate and investment banking unit, a union source said.

The bank's management recently briefed unions on the planned
expense reductions, reassuring them that there wouldn't be any
new job cuts after the bank laid off 1,750 staffers last year,
the source said.

"The management told us there wouldn't be any layoff plan,"
the source said, "but that there were expenses to be cut between
150 and 200 million euros, by 2015."

The plan is the latest sign that big European banks are
having to resort to further cost cuts to try to boost profits as
investment banking revenues remain erratic and retail and
consumer lending are depressed by weak economic growth.

On Friday, a union source told Reuters that Credit
Agricole's larger rival BNP Paribas planned to spend 1
billion euros over three years to pare down its business.

The Credit Agricole cost cuts would be found by not
replacing departing employees, as well as unspecified cuts in
the areas of real estate and information technology, the source
said the unions were told.

A Credit Agricole spokeswoman declined to comment on the
plan, which was first reported by newsletter Agefi.

Like other banks, Credit Agricole has been selling assets
and streamlining its business to meet stricter regulations after
the 2008 financial crisis. It was forced to take a 1.96 billion
euro in writedowns on the sale of its Greek unit, Emporiki Bank,
in November.
($1 = 0.7524 euros)
(Reporting by Lionel Laurent and Leila Abboud; Editing by
Hans-Juergen Peters)